#US metaverse market size

[techinsight360]

SK Telecom expands global metaverse presence through strategic alliances with telecom operators

The metaverse ecosystem has grown leaps and bounds in South Korea over the last 12 months. The growing investment from government institutions, coupled with innovative projects undertaken by private organizations, has driven the competitive landscape in the South Korean metaverse industry. Naver and SK Telecom, two of the leading private players in the metaverse market in South Korea, have reported strong growth in monthly active users in the domestic market.

To replicate their success in the global metaverse industry, both of these firms have been expanding their geographical presence through strategic alliances. In September 2022, Naver announced that the firm had partnered with True Corp., one of the leading telecommunication service providers, as part of its strategy to expand its metaverse presence in Thailand. A similar strategy has been adopted by SK Telecom, which owns the metaverse platform ifland.

In March 2023, SK Telecom announced that the firm had entered into strategic alliances with telecom operators in the United States, Europe, and Southeast Asia. Notably, the firm signed the memorandum of understanding with T-Mobile and Deutsche Telekom in the United States and Germany, respectively. These strategic alliances aim to explore the opportunities for expanding the presence of ifland into the United States and German markets.

As part of the collaborations, the three firms are projected to conduct trial runs in the two countries in Q2 2023. This will include launching a more diverse set of metaverse services, producing content tailored to local preferences, and promoting the metaverse offerings in the region.

Read More - Healthcare providers foresee growth opportunities in the metaverse sector in 2023

Alongside the United States and European markets, the South Korean metaverse giant is also aiming to drive the popularity of its metaverse platform ifland in the Southeast Asian region, the region where Naver has already built a presence through a strategic partnership with True Corp.

In March 2023, SK Telecom announced that the firm had partnered with CelcomDigi, the Malaysian telecom operator. The partnership is aimed at increasing the number of ifland users in Malaysia. Furthermore, the collaboration will also see the launch of new business initiatives, including products that cater to the demand of domestic users in Malaysia.  

Through the collaboration with Axiata, SK Telecom is seeking to expand its presence in 11 more countries in the ASEAN and Southeast Asian regions. These include countries such as Indonesia, Sri Lanka, Cambodia, Nepal, and Bangladesh. Through the partnership with Axiata, SK Telecom is expected to develop metaverse-related business models.

With each of these three telecom giants, T-Mobile, Deutsche Telekom, and Axiata, having over 100 million customers, the collaboration will provide SK Telecom with a strong foundation to expand in the respective markets. Furthermore, these strategic collaborations will also aid the growth of the global metaverse industry, which is still in its early stages of development.

From the short to medium-term perspective, TechInsight360 expects more such strategic collaborations in the metaverse market. With SK Telecom building a strong presence in North America, Europe, and Southeast Asia, TechInsight360 also expects Naver to adopt the same strategy and forge strategic alliances to boost the presence of its metaverse platform Zepeto globally.

Read More - Roblox metaverse ecosystem shows strong user adoption in a boost for the global metaverse sector

ifland and Zepeto, both of which are seeking to build a strong presence in the United States market, is bad news for Meta, which has largely struggled to get its metaverse project up and running. The United States-based firm had invested billions of dollars in the metaverse project and also reported a loss of more than US$13 billion in 2022. Over the next 12 months, the firm had already announced that it is anticipating the losses to grow even more, as continues to make the bet on the future of the internet.

Horizon Worlds, the metaverse platform, launched by Meta had failed to achieve its projected user adoption in 2022. Down from the initial projection of ending the 2022 year with a total of 500,000 users, Horizon Worlds ended the year with only 200,000 users.

In an attempt to boost the adoption of its metaverse platform, Meta announced that the firm is revamping its product to attract and target teens in the United States. The strategic move comes at a time when the firm is facing a serious user retention problem. Notably, both Naver and SK Telecom have achieved widespread success with their metaverse platform among Gen Z users.

Read More - Meta’s metaverse dreams have been outpaced by internet giants in South Korea

With the expansion of Naver and SK Telecom in the United States, coupled with the change in strategy by Meta that is now focusing on teens, the competitive landscape in the North American market is projected to grow substantially over the next few quarters. The presence of South Korean metaverse giant, SK Telecom, will also result in a substantial increase in investment in the United States market in 2023, thereby accelerating further innovation in the fast-emerging sector.

Alongside metaverse, SK Telecom has also announced to increase its investment in the field of artificial intelligence. Furthermore, the firm is also seeking potential acquisition opportunities to build on its existing AI capabilities. Notably, the firm is expected to launch the first of its AI product later in 2023. With the success of ChatGPT, the AI-powered chatbot, many firms have announced a significant investment in the area of artificial intelligence. From Microsoft to Amazon and Tencent, AI is expected to become the next focus area for most technological firms.

[mimwashere]

25 Cryptocurrency Terms You Need to Know

25 Cryptocurrency Terms You Need to Know

Content Bitcoin NFTs Coin How cryptocurrency works This term is a good one to know because market participants with the ability to execute very large transactions can potentially manipulate the market—or “make waves in the ocean.” Newcomers are frequently described as “noobs” by industry insiders. While simply buying digital currency is one example of taking a long position, there are other methods available. FXCM is a leading provider of online foreign exchange trading, CFD trading and related services. Cryptocurrencies continue to grow, with new currencies cropping up all the time, and are here to stay. Their rising popularity is driven by the proven reliability of the top cryptocurrencies, Bitcoin and Ethereum. BitIRA facilitates the purchase of Digital Currency, nothing more, and charges a fee for the service it provides . No fiduciary relationship, broker dealer relationship, principal agent relationship or other special relationship exists between BitIRA and its customers. In the Bitcoin network, the difficulty of mining adjusts every 2016 blocks. FinTech Magazine focuses on fintech news, key fintech interviews, fintech videos, along with an ever-expanding range of focused fintech white papers and webinars. But there are thousands of them, each having different value and supply limits. The Metaverse is a virtual space where users are able to interact with each other in a computer generated environment. The right, but not the obligation, to buy a security or cryptocurrency at a given price within a given time frame. When components of a distributed computer system – such as a blockchain – may fail and there is imperfect information as to whether a component has failed or not. The name given to a significant volume of Bids at a specific price that creates the impression of a wall on the Depth Chart for a given cryptocurrency. Connect buyers with sellers to exchange cryptocurrency, charging a few for their service. A unit of measurement used to compare the sizes of different blockchain transactions. Weight measurements are relative to the maximum size of a block. As of 2016, each weight unit for Bitcoin represents 1 / 4,000,000 of a block. The reward given to a Miner for successfully mining a block, containing a subsidy and fees for transactions contained within the block. For Bitcoin the subsidy halves every four year and is currently set at 6.25 BTC. Bitcoin NFTs These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks. An investigation into “pump and dump” schemes by Business Insider found the practice to be an “open secret among many cryptocurrency traders.” “Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value,” Saddington says. In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a … Leggi tutto

https://online-wine-shop.com/25-cryptocurrency-terms-you-need-to-know/

[sandyzakk]

How to use real estate in the Metaverse

The Metaverse is a virtual world beyond the real world, in which it is possible to interact with others, buy and sell goods, etc. In recent years, such a metaverse has come to be used in real estate transactions.

This article provides an overview of the Metaverse and details how it is used in real estate transactions.

What is the concept of the Metaverse?

The Metaverse is a new concept that has been attracting attention in recent years that allows you to experience a world that you have never experienced before. In October 2021, the world’s leading IT company “Facebook” will change its company name to “meta” and is attracting attention so much that it will shift its main business from SNS to Metaverse.

Another point worth noting is the rapid expansion of the metaverse market. Even in Japan, the size of the Metaverse market is growing remarkably. According to a report released by Mitsubishi Research Institute in November 2022, the domestic metaverse market is expected to grow to approximately 4 trillion yen in 2025 and approximately 24 trillion yen in 2030. increase.

Metaverse overview

The Metaverse is simply a virtual world that does not exist in the real world. Metaverse is written in English as ``metaverse’’, ``meta’’ means ``over’’ in Japanese, and ``verse’’ is taken from ``universe’’, which means the world. From this etymology, the metaverse can be interpreted as “beyond the real world”.

You can experience the world of the Metaverse on your computer, smartphone, game console, etc. For example, the virtual world that can be experienced in games such as “Atsume Animal Crossing” and “Fort Knight” is also a kind of metaverse. In these games, you can experience simulated interactions with other people that differ from the real world.

There is a word “VR” that is related to the Metaverse, but they are similar but different. Specifically, Metaverse refers to the virtual space itself, while VR refers to “tools for experiencing the virtual world” such as goggles.

What can you do in the Metaverse world?

In the Metaverse world, you can specifically do the following:

Communication: You can communicate with other users by chat or voice, and you can interact with them in a more realistic way by using avatars. It is used not only for hobby communication, but also for practical purposes such as business meetings.

Games: Metaverse technology is also used in games. Currently, VR devices such as “PSVR” and “MetaQuest2” are coming out, and you can enjoy games with more reality.

Urban development: By applying Metaverse technology to urban development, more realistic urban planning is possible. There are actually virtual cities such as “Virtual Shibuya” and “Virtual Osaka”.

Buying and Selling Things: You can buy and sell things by bringing digital assets into the Metaverse world. Currently, the digital art “NFT” is increasing in value, and there are many cases where it is bought and sold in the Metaverse world.

Features of the Metaverse

In the past, it was possible to create an avatar and move it around a two-dimensional world to do things like the above. However, there is a big difference from the metaverse. The features unique to Metaverse are as follows.

[Features of Metaverse]

Overwhelming reality and immersion

Communicate with multiple users

A world that is permanent, not temporary

Ownership of things in the virtual world is clear

In other words, the progress of Metaverse technology has made the virtual space overwhelmingly more realistic than before. It may be easy to understand if you think of the image of another world existing in parallel with the real world.

In particular, the clarification of ownership of things in the virtual world has greatly contributed to the development of the Metaverse. The reason why the ownership of things in the virtual world has become clear is that it has become possible to distinguish between copies and originals of things like data that can be easily duplicated.

In other words, only the original will have value, so the value is guaranteed. As a result, real estate transactions on the Metaverse have become possible in urban development.

How the Metaverse works

As a reason for the development of the Metaverse, he cited the clarification of ownership of things in the virtual world. As a result, the ability to buy and sell goods in the Metaverse world is the mechanism that establishes the Metaverse.

NFTs are often bought and sold in the Metaverse. NFTs are digital assets whose value is secured by utilizing blockchain technology, such as digital art and in-game items. Blockchain refers to a mechanism that makes falsification extremely difficult and allows multiple people to hold the same data in a distributed manner.

With these technologies, the value of digital assets has been secured, so you can buy and sell things with confidence even in the virtual world.

Real Estate Transactions in the Metaverse

So far, I have explained that the Metaverse is a virtual space, but there are various types of Metaverses. The main types of metaverses are:

Event type: Not only for idols and celebrities, but also for company product introductions and recruitment activities.

Game system: You can experience the world of famous games as it is in the Metaverse

Creator type: Freely create your favorite space and items, and enjoy it with others

The metaverse is also increasingly being used for real estate transactions. However, please note that not all Metaverses allow real estate transactions.

How to buy Metaverse real estate

Examples of metaverses that allow real estate transactions are:

The sandbox

Decentralized

Cryptovoxels

Dream Space

The above four Metaverses are also called “Metaverse BIG4”.

Virtual currency is required to purchase real estate on the Metaverse. Virtual currency refers to property value that can be used on the Internet.

The procedure for purchasing real estate in Metaverse is as follows.

If you do not have a virtual currency account, open one (an account of a famous company such as Coincheck is acceptable)

Create a Metamask (like a wallet or vault for storing cryptocurrencies and land)

Send virtual currency purchased using a virtual currency account to Metamask

Create a metaverse platform account

Find and buy properties in the Metaverse

What you can do with Metaverse real estate

By acquiring real estate on the Metaverse, you can:

buying and selling

rent

Store operation

Holding an event

Let’s take a closer look at each.

Buying and selling real estate

Metaverse real estate trading is done using virtual currency, so you have to prepare virtual currency first.

In the world of the Metaverse, you can make a profit by buying real estate at a low price and selling it at a high price. These are exactly the same as real-world real estate transactions. Therefore, if you are familiar with real estate transactions in the real world, you will have no problem trading on the Metaverse.

An example of real estate trading in the Metaverse is the Canadian IT company TerraZero. TerraZero provided Metaverse Mortgages, a mortgage loan for those who purchase virtual real estate in the Metaverse.

Real Estate Rental

The method of renting real estate on the metaverse is the same as real world real estate. In other words, you search for tenants in the real estate you own on the metaverse. By leasing real estate on the Metaverse, there is no need to set up a physical store, which can lead to significant cost reductions.

Summary

Metaverse is a virtual space and service that provides an experience close to the real world. It has also come to be used in real estate transactions, and its market scale is expanding rapidly. If you get into the Metaverse real estate deal now, you may be able to capitalize on this tremendous bandwagon.

[laughing-at-nothing]

25 Cryptocurrency Terms You Need to Know

25 Cryptocurrency Terms You Need to Know

Content Bitcoin NFTs Coin How cryptocurrency works This term is a good one to know because market participants with the ability to execute very large transactions can potentially manipulate the market—or “make waves in the ocean.” Newcomers are frequently described as “noobs” by industry insiders. While simply buying digital currency is one example of taking a long position, there are other methods available. FXCM is a leading provider of online foreign exchange trading, CFD trading and related services. Cryptocurrencies continue to grow, with new currencies cropping up all the time, and are here to stay. Their rising popularity is driven by the proven reliability of the top cryptocurrencies, Bitcoin and Ethereum. BitIRA facilitates the purchase of Digital Currency, nothing more, and charges a fee for the service it provides . No fiduciary relationship, broker dealer relationship, principal agent relationship or other special relationship exists between BitIRA and its customers. In the Bitcoin network, the difficulty of mining adjusts every 2016 blocks. FinTech Magazine focuses on fintech news, key fintech interviews, fintech videos, along with an ever-expanding range of focused fintech white papers and webinars. But there are thousands of them, each having different value and supply limits. The Metaverse is a virtual space where users are able to interact with each other in a computer generated environment. The right, but not the obligation, to buy a security or cryptocurrency at a given price within a given time frame. When components of a distributed computer system – such as a blockchain – may fail and there is imperfect information as to whether a component has failed or not. The name given to a significant volume of Bids at a specific price that creates the impression of a wall on the Depth Chart for a given cryptocurrency. Connect buyers with sellers to exchange cryptocurrency, charging a few for their service. A unit of measurement used to compare the sizes of different blockchain transactions. Weight measurements are relative to the maximum size of a block. As of 2016, each weight unit for Bitcoin represents 1 / 4,000,000 of a block. The reward given to a Miner for successfully mining a block, containing a subsidy and fees for transactions contained within the block. For Bitcoin the subsidy halves every four year and is currently set at 6.25 BTC. Bitcoin NFTs These schemes are often orchestrated through apps like Slack or Telegram, he adds, and advises curious chatroom readers to beware of such gimmicks. An investigation into “pump and dump” schemes by Business Insider found the practice to be an “open secret among many cryptocurrency traders.” “Pump and dumpers are people who often say, ‘Hey, let’s all of us together pump this coin,’ which means buy the coin, create the demand in the market, the coin will go up in value,” Saddington says. In early bitcoin forums, someone posted a message that spelled the word “hold” wrong, and readers interpreted it as an acronym “hold on for dear life,” Saddington explains. “Now, it’s become a … Leggi tutto

https://online-wine-shop.com/25-cryptocurrency-terms-you-need-to-know/

[meta-merchant]

How Web3 is Transforming the Digital World?

What is Web 3?

Web3, or the third generation of the internet, envisions a decentralized and user-controlled online ecosystem. Unlike Web2.0, where a few big tech companies control user data, Web3 leverages blockchain technology to decentralize power. This fundamental shift aims to return ownership of data and assets to users, giving them greater autonomy and control over their online activities.

In practical terms, Web3 makes use of technologies like blockchain, smart contracts, and tokens. Through these innovations, Web3 is establishing a “trustless” system where intermediaries are no longer needed to validate transactions or verify data ownership. Instead, users can interact and transact directly, securely, and transparently.

Key Components of Web3

Decentralization: Web3 operates on a decentralized structure, meaning no single entity has control over data or content. This approach allows for a more open and fair internet.

User Ownership: Users retain ownership of their data and digital assets, ensuring privacy and security.

Smart Contracts: Self-executing contracts are embedded with terms of the agreement, enabling secure transactions without intermediaries.

Tokenization: Digital assets, like cryptocurrencies and NFTs, facilitate transactions and ownership rights, creating new ways for users to interact and invest. Web3, the next evolutionary step in internet technology, is revolutionizing the digital landscape. Unlike its predecessor, Web3 operates on decentralized principles, reshaping how users interact with online content. This paradigm shift from the traditional, centralized internet to a decentralized one is driven by innovative Web3 technologies, such as blockchain and smart contracts.

Recent Developments in Web3:

Web3 Gaming Expansion: The Web3 gaming space is set to explode over the next few years, with predictions that Web3 will add the first 10 million to 100 million gamers within the next year or two. This growth is driven by the development of new applications and changing consumer behavior.

Web3 Fashion Innovations: Mmerch, a Web3 “neo couture” brand, has introduced its second collection of one-of-a-kind hoodies, each linked to NFTs and art. These physical hoodies are algorithmically generated and inspired by Cryptopunk #8348, combining generative art, NFTs, and on-demand manufacturing.

Web3 in Financial Markets: On the eve of the U.S. election, prediction markets like Polymarket and Kalshi witnessed billions of dollars in cryptocurrency bets favoring Donald Trump over Kamala Harris. These platforms have seen significant trading volumes, highlighting the growing influence of Web3 technologies in financial speculation.

Web3 and AI Integration: The AI UGC social metaverse MEET48 sponsored the “W2140 Bangkok World AI + WEB3 Expo,” highlighting the intersection of AI and Web3 technologies. This collaboration underscores the potential for AI and Web3 to transform digital interactions.

Web3 Infrastructure Advancements: Gora has launched application-specific oracles for Web3, providing medium and small-sized Web3 projects with cost-effective, high-quality data services tailored to fit unique industry needs. This development empowers blockchain projects and smaller Web3 developers with customizable oracle solutions that align with specific use cases.

6. MEET48 and AI Integration: MEET48, an AI UGC social metaverse, sponsored the “W2140 Bangkok World AI + Web3 Expo” on November 6, 2024. This event marked an important step in merging AI technology with Web3.

Growth in Web3 Gaming: Industry insiders believe Web3 gaming is just beginning but offers immense potential. By allowing users to own in-game assets, Web3 gaming creates a more immersive and valuable experience for players.

The Road Ahead for Web3

Although Web3 is still in its early days, the potential is vast. As people become more conscious of privacy, data ownership, and transparency, Web3 may set the new standard for digital interaction. Marketers and PR professionals must adapt to this emerging ecosystem by embracing Web3 tools and strategies to stay relevant and foster meaningful, direct relationships with their audiences.

For those in digital marketing and PR, like MetaMerchant, the Web3 era offers exciting opportunities to engage with customers in new ways. Those who stay ahead of the curve, understanding and implementing Web3 solutions, will likely be at the forefront of the next digital transformation.

[iotexpo]

Industry trend｜Shenzhen wins the "World Smart City Award"! What will be the key focus for the development of smart cities in the future?

Recently, at the 2024 Global Smart City Conference which just concluded in Barcelona, Spain, Shenzhen stood out from 429 cities in 64 countries and regions and won the "City Award"!

The Global Smart City Conference (hereinafter referred to as the Conference) is the world's largest theme exhibition focusing on the development and transformation of cities and society. It has been held for 14 consecutive sessions since 2011. The Conference has received long-term and strong support from international and regional organizations such as the United Nations Human Settlements Program, the World Economic Forum, the World Bank, C40, and the European Union in parallel forums and activities, ecological publicity, brand cooperation, and organizing exhibition groups.

Here, let's give some examples to prove the "strength of Shenzhen":

Shenzhen has created the "iShenzhen" APP, which brings together services throughout the life cycle. More than 8,600 service items can be "handled on the palm of your hand", including 407 types of electronic certificates and licenses, supporting multi-scenario applications, and the international version provides services in 9 languages. There are more than 20 million registered users and more than 7 billion services.

Shenzhen has set up an artificial intelligence cleaning pilot, and the robot can avoid obstacles autonomously. In 2022, the reform of people's livelihood demands will be launched, 537 channels will be integrated, and the "@Shenzhen-Public Opinion Speed Handling" platform will be created, with an average annual handling of more than 37 million demands and a satisfaction rate of more than 99%.

Shenzhen has launched an AI-assisted trial system, which has greatly improved the efficiency of closing civil and commercial cases. The "Super Fast Charging" area based on "iShenzhen" helps electric vehicles charge.

Shenzhen has initially built a digital twin base for the entire city, integrating more than 10,000 building BIM models, releasing more than 4,000 data services, and building more than 200 application scenarios to help urban governance.

What will be the development focus of smart cities in the future?

In recent years, the scale of the smart city market has continued to grow, thanks to the widespread application of technologies such as the Internet of Things, cloud computing, and big data, providing a solid foundation for the construction of smart cities.

It is predicted that the scale of China's smart city market has maintained a growth of more than 30% in recent years, from 21.08 trillion yuan in 2021 to 24.3 trillion yuan in 2022, and is expected to reach 33 trillion yuan by 2024, showing a huge market size and growth potential.

So what will be the focus of future development?

First of all, in terms of technological innovation, emerging technologies such as the Internet of Things, big data, artificial intelligence, and blockchain will be more widely used in smart cities. At the same time, the introduction of digital twins and metaverse concepts will provide cities with richer interactive experiences and application scenarios.

In the field of green and low-carbon, smart cities will focus on the construction and upgrading of green infrastructure and promote the improvement of environmental protection and resource recycling systems.

In terms of people-oriented service improvement, smart cities will emphasize technological innovation and intelligent management, improve service levels and residents' quality of life, and take measures to help digital disadvantaged groups cross the digital divide.

In terms of urban governance and resilience improvement, smart cities will improve governance levels through intelligent perception, data analysis and other technical means, strengthen the security management of urban physical and digital spaces, and improve the ability to respond to emergencies.

Finally, in terms of industrial integration and coordinated development, the construction of smart cities will promote the deep integration of the digital economy and the real economy, and promote the coordinated development of upstream and downstream enterprises in the industrial chain.

The overall architecture of smart cities can be summarized into three levels based on the classification of the Internet of Things: perception layer, communication and network layer, platform layer and application.

The perception layer is the infrastructure of the entire smart city and constitutes the foundation of the smart city. According to the needs of the scene, the perception layer provides a large number of monitoring equipment to passively or actively obtain environmental data and upload it after recording.

The communication layer mainly carries the function of data transmission to the perception layer. It can be roughly divided into wired communication and wireless communication. The two communication methods have their own characteristics and need to be selected according to the actual needs of the smart city project.

The application layer can be called the "operating system" of the smart city, which plays a variety of functions such as collecting data, analyzing data, and assisting decision-making. The "operating system" plus the city's infrastructure constitute the foundation of the smart city, and on top of it are various urban application services, which connect the city's smart living space in units of application scenarios.

The application areas of smart cities have covered smart government affairs, smart transportation, smart medical care, smart education, smart security and other aspects, improving government service efficiency and citizen satisfaction, reducing traffic congestion and accidents, providing convenient and efficient medical services, evenly distributing educational resources, and improving security prevention capabilities.

"Smart City" becomes a hot spot for IoT investment and financing

In 2023, the investment scale of China's smart city ICT market will be RMB 875.44 billion, and it is expected to reach RMB 1,185.87 billion in 2027, with an average annual compound growth rate of 8.0%.

The investment subjects are diverse, and the investment subjects in the smart city construction industry are relatively balanced, involving multiple types of investment subjects, including industrial, investment, funds, etc., reflecting the strong capital attraction of the smart city construction industry.

In the investment in the smart city ICT market, government-led investment accounts for more than 18% of the total market investment, showing the important role of the government in the construction of smart cities.

The market competition is fierce, and many domestic and foreign companies have made layouts. Domestic technology giants such as Huawei, ZTE, Tencent, and Alibaba have launched many solutions and products, and start-ups have also emerged. International multinational companies such as IBM, Cisco, and Siemens are actively seeking cooperation with Chinese companies to jointly promote the development of smart cities.

In the fierce market competition, whether companies and investors can make timely and effective market decisions is the key to success. 2025 IOTE Internet of Things Exhibition will add more innovative elements to meet the new needs of industry development. It is expected that the exhibition will cover a wider range of IoT application fields, such as smart home, smart city, industrial Internet, etc., while introducing more international exhibitors and visitors.

This paper is from Ulink Media, Shenzhen, China, the organizer of IOTE EXPO (IoT Expo in China)

[redbangle]

The Next-Gen Runway: Fashion's Digital Evolution

Launched in 2020, DressX was created with an ambitious vision: to craft “digital fashion” for the virtual world. This revolutionary concept sparked the birth of the world’s first “meta-fashion” company, establishing a major presence in Meta’s avatar-fashion marketplace alongside heritage brands like Prada and Balenciaga. But unlike traditional fashion brands, DressX isn’t here to replace physical wardrobes; instead, it’s transforming fashion for a digital audience. Particularly, influencers and YouTubers who require frequent style changes can now turn to virtual garments to keep their looks fresh without the environmental footprint or financial strain of real-world outfits.

In September 2023, DressX pushed the boundaries of digital fashion even further through a collaboration with Italian fashion brand Diesel, bringing the iconic Diesel jeans into the metaverse. Digital replicas of Diesel’s denim jackets, jeans, and sneakers were crafted, allowing fans to outfit their avatars in virtual Diesel gear across platforms like Instagram, Facebook, Messenger, and Quest VR. This fusion of fashion and futurism demonstrates how digital fashion is revolutionizing the industry and paving the way for a new era in which personal style knows no physical bounds.

Virtual Influencers: The New Face of Marketing

Virtual influencers are fictional, computer-generated personas used primarily for social media marketing. Unlike traditional influencers, these digital characters never age, rest, or take a day off, making them invaluable assets for brands. Popularized by virtual personalities like Lil Miquela, who boasts millions of followers, these avatars embody unique brand identities, often appealing to tech-savvy, younger audiences. Notably, supermodel Bella Hadid collaborated with AI influencer Miquela in a Calvin Klein campaign, underlining the mainstream appeal of digital personalities.

For brands, virtual influencers represent a cost-effective and highly customizable marketing strategy. Because these characters can be tailored to reflect a brand's values and aesthetics, they resonate deeply with audiences and achieve high levels of digital engagement. This shift suggests a future in which digital personas become as influential as real-life celebrities.

Blurring Reality with the Virtual World

The integration of virtual and physical realms is further evident in collaborations between luxury brands and virtual platforms. Gucci’s foray into Roblox with Gucci Town exemplifies this trend. Gucci Town allows users to outfit their avatars in exclusive virtual Gucci items, merging the allure of high fashion with the playful, imaginative environment of a virtual world. This isn't simply a marketing gimmick; it’s a strategic move that leverages digital spaces to expand Gucci’s brand presence and connect with the younger generation increasingly immersed in online environments.

These virtual experiences are blurring the lines between the real and digital worlds, redefining our perception of value and exclusivity. Virtual fashion items are no longer confined to digital storefronts but are gradually being integrated into daily lives through gaming platforms, social media, and even workplace environments.

Virtual Try-Ons: Revolutionizing Online Shopping

Another groundbreaking development in digital fashion is the rise of virtual try-on technology, transforming how people shop online. Google’s Virtual Try-On feature uses generative AI to showcase how clothing might look on individuals with different skin tones, body shapes, and sizes. This powerful technology allows users to preview how clothing items drape, fold, and fit, creating a more informed shopping experience that resembles in-person shopping.

Similarly, Amazon Fashion’s Virtual Try-On for Shoes offers a 360-degree view, helping customers make more confident purchases and reduce the likelihood of returns. As virtual try-ons become increasingly sophisticated, they address a key limitation of online shopping by giving consumers a more tangible sense of how an item would look in real life.

NFTs and the Rise of Digital Collectibles

The rise of NFTs (non-fungible tokens) has introduced the concept of digital ownership, and brands are quickly capitalizing on this new trend. Nike, for example, launched its platform .SWOOSH, a community-driven space where digital sneaker drops are unveiled. In May 2023, Nike introduced its first digital collection, Our Force 1 (OF1), a tribute to 50 years of Air Force Ones. Each digital sneaker is essentially an NFT, meaning the owner possesses a unique, virtual Nike collectible.

These digital sneakers aren’t merely pixels; they come with 3D files that can be utilized across platforms, including games. For sneakerheads and collectors, this concept of digital exclusivity is a novel experience that fuses fandom with the potential of reselling or showcasing rare digital items, blurring the lines between virtual fashion and real-world collectibles.

AI-Powered Shopping Tools: A Smarter Way to Shop

AI-powered virtual styling tools are revolutionizing how consumers shop for clothes by providing personalized recommendations. For instance, the Styleriser tool allows users to upload a picture of themselves to receive AI-driven style suggestions tailored to their unique features. According to CEO Mark Hunsmann, Styleriser boosts purchasing confidence by as much as 80%, as consumers feel more assured about their choices before making a purchase. The tool also promotes sustainability by reducing the number of returns, thus benefiting both businesses and the environment.

With AI-driven tools becoming more widespread, consumers now have access to highly personalized shopping experiences. These advancements represent an evolution in digital retail, moving towards a future in which artificial intelligence serves as a personal stylist for each individual.

AI Celebrities and Marketing Campaigns

AI isn’t only revolutionizing how we shop but also how brands market their products. Lenskart, a popular eyewear retailer, launched a campaign inspired by K-pop in 2023 featuring Astro IRIS, a virtual K-pop band created entirely through AI. Astro IRIS’s digital members—Jiang, Dawn, Valentine, and Lyla—sport Lenskart’s new collection, appealing to global fans of South Korean pop culture. This strategy allows Lenskart to tap into the massive fan base of K-pop without the logistical and financial limitations of a traditional celebrity endorsement.

The Ethical Implications of Virtual Beauty Standards

As virtual influencers gain popularity, a new ethical question arises: How are these digital avatars impacting real-world beauty standards? Avatars like Lil Miquela, with seemingly flawless features, are reshaping societal expectations of beauty, often setting unrealistic standards. Critics argue that digital personas may contribute to self-esteem issues and unrealistic self-image expectations.

Yet, the allure of these virtual characters is undeniable. As they become increasingly embedded in popular culture, society faces the challenge of balancing the benefits of digital innovation with the need for healthy, realistic portrayals of beauty.

Conclusion: A Digital Runway for the Future

Digital fashion is redefining the fashion landscape, from virtual try-ons to AI-powered styling and NFT collectibles. As brands like DressX, Gucci, and Nike innovate in the digital space, they are not only expanding their markets but also transforming how we think about fashion, ownership, and personal identity. In this new era, the distinction between physical and virtual becomes blurred, enabling an unprecedented level of personalization and engagement. The digital runway is open, and it promises a future where fashion is as limitless as our imaginations.

For more details, visit: https://www.redbangle.com

[jayanthitbrc]

Global Metaverse In Gaming Market Analysis 2024: Size Forecast and Growth Prospects

The metaverse in gaming global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Metaverse In Gaming Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.

Market Size - The metaverse in gaming market size has grown exponentially in recent years. It will grow from $33.6 billion in 2023 to $47.7 billion in 2024 at a compound annual growth rate (CAGR) of 42%. The growth in the historic period can be attributed to growing popularity of owning virtual assets such as NFTs, the development of gaming, development of VR and AR-related games, and research and development in metaverse.

The metaverse in gaming market size is expected to see exponential growth in the next few years. It will grow to $194.92 billion in 2028 at a compound annual growth rate (CAGR) of 42.2%. The growth in the forecast period can be attributed to expanding implementations of metaverse, the rising popularity of AR and VR, rapidly rising popularity of play-to-earn games, demand for immersive gaming experiences, and rising investment. Major trends in the forecast period include advancements in VR software, technological developments, innovative marketing strategies, enhancement of gaming experience through integration of 3D technology, and rapid advancements in gaming software.

Order your report now for swift delivery @ https://www.thebusinessresearchcompany.com/report/metaverse-in-gaming-global-market-report

Scope Of Metaverse In Gaming Market The Business Research Company's reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market's historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Metaverse In Gaming Market Overview

Market Drivers - The rising popularity of augmented reality (AR) and virtual reality (VR) is expected to propel the growth of the metaverse in the gaming market going forward. Augmented reality (AR) enhances the real world with digital content, while virtual reality (VR) immerses users in entirely digital environments through specialized headsets. The growing popularity of AR and VR stems from their ability to provide immersive, interactive experiences across gaming, education, healthcare, and entertainment, transforming digital content interaction and real-world engagement. AR and VR use the metaverse in gaming to create immersive and interconnected virtual experiences, allowing players to interact with each other and digital environments seamlessly, enhancing gameplay and social interaction. For instance, in February 2023, according to XR Today, a UK-based technology podcast company, approximately 57.4 million people in the United States owned a VR headset in 2020, and this figure had risen to 37.7 million in 2022. Therefore, the rising popularity of AR and VR is driving the growth of the metaverse in the gaming market.

Market Trends - Major companies operating in the metaverse in the gaming market are focusing on the development of advance platforms such as community-driven gaming platforms to enhance immersive experiences and foster user engagement. These platforms harness the collective creativity, passion, and expertise of players to shape the gaming experience and create vibrant, thriving communities. For instance, in January 2024, Nifty Island LLC, a US-based play-to-earn gaming platform, launched its open beta version of metaverse games, offering players a unique gaming experience with avatars from renowned non-fungible token (NFT) collections such as Azuki, Bored Apes, CloneX, and CoolCats. Additionally, Nifty Island's play-to-airdrop system, which rewards players with tokens and NFTs for their participation and enhances the connection between the game and the broader Web3 ecosystem, offers crypto rewards that align with the principles of the metaverse as a decentralized and interconnected virtual space.

The metaverse in gaming market covered in this report is segmented –

1) By Component: Hardware, Software, Services 2) By Technology: Non-Fungible Token (NFT), Blockchain, Virtual Reality, Augmented Reality, Mixed Reality, Extended Reality 3) By Genre: Action, Adventure, Role-Playing Games (RPGs), Simulation, Sports And Racing, Strategy, Sandbox, Card And Casino Games, Other Genres 4) By Age Group: Below 21 Years, 21 - 35 Years, 36 - 50 Years, 51 Years And Above

Get an inside scoop of the metaverse in gaming market, Request now for Sample Report @ https://www.thebusinessresearchcompany.com/sample.aspx?id=14957&type=smp

Regional Insights - North America was the largest region in the metaverse in gaming market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the metaverse in gaming market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies - Major companies operating in the metaverse in gaming market are Microsoft Corporation, Meta Platforms Inc., Sony Corporation, Fujitsu Limited, Nvidia Corporation, WPP plc, NetEase Inc., Electronic Arts Inc., Vertiv Group Corporation, Epic Games Inc., Autodesk Inc., Roblox Corporation, Unity Software Inc., Axie Infinity, Magic Leap Inc., Kellton Tech Solutions Ltd., LeewayHertz Inc., Aetsoft Inc., Aptos Labs, SmartMedia Technologies Inc., Spatial Systems Inc., The Sandbox

Table of Contents 1. Executive Summary 2. Metaverse In Gaming Market Report Structure 3. Metaverse In Gaming Market Trends And Strategies 4. Metaverse In Gaming Market – Macro Economic Scenario 5. Metaverse In Gaming Market Size And Growth ….. 27. Metaverse In Gaming Market Competitor Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis 30. Appendix

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[tamanna31]

Metaverse Market Share, Supply, Sales, Manufacturers, Competitor and Consumption 2024 to 2030

Metaverse Industry Overview

The global metaverse market size was estimated at USD 82.02 billion in 2023 and is projected to grow at a CAGR of 43.9% from 2024 to 2030.

The integration of spatial technologies enables users to engage with digital content as if it exists in their physical surroundings, blurring the boundary between virtual and real-world experiences. Companies are increasingly adopting this technology to create immersive products and services that enhance user interactions and bridge the gap between the digital and physical realms, driving innovation in various industries. For instance, in January 2024, Unity Technologies, an American software company collaborated with Apple Inc. to support spatial experiences, including augmented reality (AR) and spatial computing. This collaboration aims to support the development of spatial experiences, particularly within the realm of AR and spatial computing. This collaboration seeks to empower developers to create interactive digital content that seamlessly integrates with the physical world, thereby enhancing user experiences and advancing the evolution of the metaverse.

Gather more insights about the market drivers, restrains and growth of theMetaverse Market

Advancements in augmented reality (AR), virtual reality (VR), mixed reality (MR), and 3D visualization drive market growth, enhancing immersive experiences for businesses. These technologies facilitate improved visualization, simulation, and prototyping across industries. Moreover, the focus on digital twins and smart factories further leverages their capabilities. Rising investments and partnerships underscore the market's expansion, indicating increased interest and support. Moreover, the emphasis on delivering enhanced customer experiences drives adoption and innovation. Furthermore, the integration of AR, VR, MR, and 3D visualization technologies enables industries to simplify processes and reduce costs. Businesses utilize these tools for training, remote collaboration, and product design, improving efficiency and productivity. Additionally, the growing demand for immersive experiences in the entertainment, gaming, and education sectors further propels market growth.

Cryptocurrencies and Non-Fungible Tokens (NFTs) are exerting transformative influence over the market. Within virtual realms, cryptocurrencies redefine transactions through the establishment of a decentralized, borderless digital economy. They empower users to engage in seamless commerce, surpassing traditional payment systems and facilitating efficient transactions across the metaverse. Meanwhile, NFTs transform ownership by certifying the uniqueness and provenance of digital assets, spanning from artwork to virtual real estate. This introduces a new dimension of value and scarcity, propelling the creation of diverse digital creations and collectibles. These developments converge in a metaverse where ownership, commerce, and creativity intersect, fostering innovative and rewarding interactions and laying the foundation for a dynamic digital ecosystem.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

The global digital twin market size was estimated at USD 16.75 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 35.7% from 2024 to 2030.

The global non-fungible token market size was estimated at USD 26.9 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 34.5% from 2024 to 2030.

Key Companies profiled:

Bentley Systems, Inc.

Dassault Systems SE

HTC Corporation

Magic Leap, Inc.

Microsoft Corporation

NVIDIA Corporation

PTC Inc

Siemens AG

Swanson Analysis Systems Inc.

Unity Software Inc.

Key Metaverse Company Insights

Prominent firms have used product launches and developments, followed by expansions, mergers and acquisitions, contracts, agreements, partnerships, and collaborations as their primary business strategy to increase their market share. The companies have used various techniques to enhance market penetration and boost their position in the competitive industry. For instance, in February 2024, The Walt Disney Company, an American multinational mass media company, collaborated with Epic Games Inc., with Disney investing $1.5 billion to secure a significant ownership interest in Epic Games. Disney plans to create an expansive games and entertainment universe connected to Fortnite.

Recent Developments

In March 2024, Cornerstone, a software company, acquired TALESPIN REALITY LABS, INC., a software company that develops and builds virtual, augmented, and mixed reality applications in the U.S.  This acquisition enables the integration of immersive learning experiences, utilizing spatial computing and GenAI, into its content subscriptions and learning solutions, providing personalized, contextually relevant training across various industries.

In March 2024, Meta, a U.S. technology company, partnered with NVIDIA Corporation to procure 350,000 H100 GPUs. The company intends to strengthen its infrastructure for the advancement of artificial general intelligence (AGI) and enhance support for various metaverse-related services and devices through AGI.

February 2024, Capgemini, a French IT company, and Unity have strengthened their partnership, with Capgemini overseeing Unity’s Digital Twin Professional Services arm, creating one of the largest groups of Unity developers worldwide. This collaboration speeds up the development of real-time 3D visualization software for the industrial use of digital twins, allowing users to interact with physical systems and advance intelligent industry solutions.

In January 2024, Ansys Inc., an American multinational company introduced Ansys SimAI, an AI-powered SaaS application to transform engineering workflows by combining simulation accuracy with generative AI speed. This launch aims to accelerate performance prediction, enabling rapid analysis and reducing time-to-market for product development.

Order a free sample PDF of the Metaverse Market Intelligence Study, published by Grand View Research.

[omshinde5145]

Augmented and Virtual Reality Market Size, Revenue Share, Drivers & Trends Analysis, 2024–2030

TheAugmented and Virtual Reality Market was valued at USD 23.8 billion in 2023-e and will surpass USD 99.4 billion by 2030; growing at a CAGR of 22.6% during 2024 - 2030. The report focuses on estimating the current market potential in terms of the total addressable market for all the segments, sub-segments, and regions.

In the process, all the high-growth and upcoming technologies were identified and analyzed to measure their impact on the current and future market. From gaming and entertainment to healthcare and education, AR and VR are creating immersive experiences that enhance our interaction with the digital world. As these technologies continue to mature, the market for AR and VR is set to expand exponentially. This blog explores the current trends, key players, challenges, and future prospects of the AR and VR market.

Get a Sample Report: https://intentmarketresearch.com/request-sample/augmented-and-virtual-reality-market-3099.html `

Current Trends in AR and VR

Integration with AI and IoT: The convergence of AR/VR with artificial intelligence (AI) and the Internet of Things (IoT) is a significant trend. AI enhances AR and VR experiences by providing real-time data processing and machine learning capabilities. For instance, AI-powered AR applications can recognize objects and provide relevant information, while IoT devices can create more interactive VR environments.

Expansion in Gaming and Entertainment: Gaming remains the most prominent application of AR and VR. Companies like Oculus, PlayStation VR, and HTC Vive are continuously pushing the boundaries of immersive gaming. Beyond gaming, AR and VR are transforming the entertainment industry by enabling virtual concerts, immersive storytelling, and virtual theme parks.

Rise of AR in E-commerce: AR is becoming a crucial tool in e-commerce. Retailers are leveraging AR to offer virtual try-ons for clothing, accessories, and even furniture. This not only enhances the shopping experience but also reduces return rates by allowing customers to visualize products in their real-world environment before making a purchase.

Advancements in Healthcare: AR and VR are making significant inroads in the healthcare sector. They are being used for medical training, remote surgeries, and therapy. For example, VR simulations provide a safe environment for medical professionals to practice surgeries, while AR can assist surgeons with real-time data during procedures.

Enhanced Remote Collaboration: The COVID-19 pandemic accelerated the adoption of AR and VR for remote work and collaboration. Virtual meeting platforms are now incorporating AR and VR to create more engaging and interactive virtual workspaces, which can mimic the presence of a physical office environment.

Key Players in the AR and VR Market

Several tech giants and innovative startups are driving the AR and VR market forward:

Facebook (Meta): With its acquisition of Oculus, Meta has positioned itself as a leader in the VR market. The company's focus on building the metaverse—a collective virtual shared space—highlights its commitment to advancing VR technologies.

Google: Google has made significant strides in AR with its Google ARCore platform and devices like Google Glass. These tools are helping developers create AR experiences that are accessible to a wide audience.

Apple: Known for its innovation, Apple is heavily investing in AR through its ARKit platform and is rumored to be developing AR/VR hardware. Apple's integration of AR in its devices, like the iPhone and iPad, is bringing AR to mainstream consumers.

Microsoft: Microsoft’s HoloLens is a leading AR device used primarily in enterprise settings. HoloLens is utilized in fields such as manufacturing, healthcare, and education for tasks ranging from design visualization to remote assistance.

Challenges in the AR and VR Market

Despite the promising growth, the AR and VR market faces several challenges:

High Development Costs: Creating high-quality AR and VR experiences requires substantial investment in hardware, software, and content development. This can be a barrier for smaller companies.

User Experience Issues: Issues like motion sickness and eye strain remain significant hurdles in VR adoption. Improving comfort and usability is crucial for broader acceptance.

Privacy and Security Concerns: As AR and VR devices collect vast amounts of data, ensuring user privacy and data security is paramount. This is especially critical as these technologies become more integrated into our daily lives.

Limited Content Availability: The success of AR and VR hinges on the availability of compelling content. Currently, there is a limited amount of high-quality AR and VR content, which can hinder user engagement and adoption.

Get an insights of Customization: https://intentmarketresearch.com/ask-for-customization/augmented-and-virtual-reality-market-3099.html

Future Prospects

The future of AR and VR is incredibly promising. Here are some potential developments to watch for:

Widespread Adoption in Various Industries: As AR and VR technologies become more affordable and user-friendly, their adoption will spread across industries like real estate, automotive, tourism, and education.

Advancements in Hardware: Future AR and VR devices will be lighter, more comfortable, and more powerful. Innovations in display technology, battery life, and processing power will enhance the overall user experience.

Growth of the Metaverse: The concept of the metaverse—a fully immersive digital universe where people can interact, work, and play—will drive significant investment and innovation in AR and VR.

Enhanced Interactivity and Realism: Advances in haptic feedback, spatial audio, and AI-driven interactions will make AR and VR experiences more realistic and interactive, blurring the lines between the digital and physical worlds.

Conclusion

The AR and VR market is at an exciting juncture, poised for significant growth and innovation. As these technologies continue to evolve, they will transform the way we interact with the world around us, offering new possibilities and experiences. Businesses and developers that embrace AR and VR today will be at the forefront of this digital revolution, shaping the future of immersive technology.

[thelifestylesaga]

Gaming + Fashion? If this were the 2000's, we'd all be laughing at this collaboration - but it is 2024, it is serious and it is here

'Roblox to Sell Physical Goods Through Shopify Integration' reads the headline for one of Business of Fashion's (BoF) September 6th articles.

Hello y'all!

Today we're going to be talking about the integration of Augmented Reality (AR) and Virtual Reality (VR) into gaming and fashion.

The gaming world is no stranger to the use of AR and VR, from games like Gran Turismo incorporating VR into GT 7 - “Witnessing the same Gran Turismo 7 we know and love, but now in VR without the hangups felt liberating. Like Arsenal under Mikel Arteta, finally, the potential of virtual reality for driving games on console has been realized,” writes Thomas Harrison-Lord in his opinion piece for Motorsport - to Fortnite providing interactive experiences to its users in the form of virtual concerts (popularly called V-concerts) featuring artists the likes of Travis Scott, BTS, Diplo, and Ariana Grande.

And Roblox - the online game platform and game creation system that allows users to program and play games created by themselves or other users - is already familiar with using VR to branch out of the gaming world.

Similar to Fortnite, Roblox’s V-concerts also boast an impressive resume - from Lil Nas X and Zara Larsson to Twenty One Pilots - the platform is accustomed to using Gen AI to create and deliver unique experiences to its users. 

So I see Roblox’s latest partnership with Shopify as an effort to diversify its portfolio and an opportunity for both profit and exploration. According to BoF’s review of a demo video, users would be able to see “a 'Buy Now' prompt next to a virtual T-shirt that calls up an e-commerce product page where they can see photos of the physical item, select colors or sizing and make their purchase.

Customers will be able to pay using any method accepted in the seller’s online store, according to Shopify. Purchasing will be restricted to users 13 and older.”

I believe that Roblox, with its loyal customer base, can help boost Shopify’s sales (and earn commission in return, if they choose to include that in their partnership), while also boosting user activity on the gaming platform using social media and word-of-mouth to market its foray into the world of metaverse fashion. 

BoF’s article states that “The companies said the integration will start to roll out soon, with a larger launch arriving in early 2025.” So it shall remain to be seen whether or not Roblox can indeed successfully leverage VR and what impact, if any, will the partnership make on Shopify’s sales.

Until next time,

Cheers!

http://newhouse.syr.edu

[techinsight360]

Innovation in metaverse expected to intensify in 2023 with increased investment

The investment in the metaverse sector, which has been led by Meta, has resulted in investors asking questions about the potential future of the metaverse industry. While adoption of the technology, termed as the future of the internet, has remained below expectations in 2022, tech firms have continued to invest billions of dollars into the development of new projects and metaverse-related infrastructure. Although Meta might not have anything substantial just yet to prove to investors that the metaverse is indeed the future of the internet, other smaller firms have continued to launch innovative metaverse platforms.

Read More - Meta continues to push its way into the metaverse world with mergers and acquisitions

MeetKai, one of the metaverse-focused firms, has launched several products over the last few quarters to help developers in building components of the virtual worlds. At the 2023 Consumer Electronics Show, the firm launched more innovative platforms that are geared toward users and creators of the metaverse. Notably, the firm launched MeetKai Reality, a 3D-digitizing service, that brings various objects and spaces from the real world into the metaverse.

The platform will allow developers and creators to record a video and then upload the footage to MeetKai Reality. The service then renders the captured space in virtual reality. While there are already platforms, such as Matterport, Coohom, and Zillow, which render spaces from photos, the MeetKai Reality service is the first that is specifically tailored for the metaverse use cases. PayNXT360 expects the MeetKai Reality service launched by the firm to further drive innovation in the real estate, interior design, engineering, and architecture fields.

Read More - Zepeto accelerates global expansion plan to compete with big tech giants in the metaverse sector

Along with MeetKai Reality, the firm also launched another product at the 2023 Consumer Electronics Show. The MeetKai Metaverse Editor, a bit more differentiating product compared to MeetKai Reality, allows users and developers without coding experience to build spaces and structures in the metaverse. Of course, there are tools such as Tripolygon that allow developers to build metaverse spaces, but they are not no-code applications such as MeetKai Metaverse Editor.

The firm is also launching MeetKai Cloud AI, the service that will allow developers to integrate voice assistants into an existing metaverse environment. According to the firm, the voice assistants will take the form of avatars that will be conversing on any given topic in the metaverse. Furthermore, these avatars will have reasoning capabilities when interacting with the end users.

Along with MeetKai, a number of different firms announced various innovative initiatives and projects in the metaverse sector at the 2023 Consumer Electronics Show. LG Electronics, for instance, announced a plethora of metaverse-related initiatives at the 2023 Consumer Electronics Show. The firm has increased its investment to bring the metaverse to smart TVs. Integration of the metaverse with smart TVs can potentially drive mass popularity and adoption of the virtual worlds among consumers globally.

Read More - Brands are using metaverse as a marketing tool for reaching and educating prospective customers

Like smart TVs, firms such as Sony are also seeking to drive the mass adoption of the metaverse by bringing the virtual world to customers through their smartphone devices. The firm had launched a sensor-based product, which when attached to the human body, allows consumers to experience their movements in the metaverse through their smartphone devices. In 2023, TechInsight360 expects these firms to further increase their investment in the space and launch innovative products and services, thereby supporting the growth of the market from the short to medium-term perspective.

[priyankashares]

AI-powered Metaverse : A Game-Changer for Businesses

The metaverse industry has been constantly growing, with more and more companies across the globe incorporating metaverse strategies. Its versatility and global reach make it a strong strategy to have in one’s pocket.

What is the metaverse?

The metaverse is a virtual simulated environment where users login and interact with each other and their environment using digital representatives called “avatars”.

With latest technological developments, Artificial Intelligence, or AI, is being incorporated into metaverse environments to provide an enhanced experience.

STATISTICS about the AI industry

From a $86.9B sized market in 2022, the AI market is expected to rise to $407B by 2027.

64% of businesses expect AI to boost productivity.

AI-powered enhancements

AI Avatars

AI is used to code avatars with human gestures. As humans, we subconsciously relate to non-verbal cues such as blinking, hand movements, smiling and expressions.

Humanising avatars using AI delivers a more engaging experience for attendees.

AI avatars are also customisable, allowing attendees to have freedom and be creative and thus, resulting in a more memorable experience.

AI Metaverse

User experience and AI go hand-in-hand and AI is used to enhance the experience of the user in the metaverse.

A metaverse integrated by AI is more realistic.

AI is used to create a highly immersive virtual environment that piques an attendee’s interest and keeps them engaged.

AI Virtual Assistant

Having a human operator constantly on the metaverse is not feasible. The metaverse might be logged in by people from around the world and hence, owing to the time difference and the high volume of attendees, it is not possible for a human operator to have a one-on-one interaction with all attendees with queries and solve them in time.

Generative AI-based conversational chatbot avatars provide a humanised, one-on-one live interaction without the time delays experienced with human operators.

A humanised AI voice assistant ensures timely clarifications in a conversational tone keeping the attendee engaged.

AI for high-volume data analysis

Owing to the large number of attendees that metaverse events attract, it is tough to keep a track of high volumes of data. This makes the process of generating analysis reports that much more time consuming and difficult.

Using an AI assistant, not only can you analyse higher volumes of data, but also generate timely reports that are accurate, ensuring that no leads are lost.

Conclusion

AI-integrated metaverse experiences are more immersive and engaging as compared to virtual event platforms. With technological advancements, metaverse and AI have become synonymous, and a metaverse event gathers a lot of global hype, experiencing high virtual footfalls and high engagement. AI integration further enhances these experiences.

FAQ’s

Is it difficult to set up the metaverse?

Not at all! ibentos uses a no-code metaverse platform that can be set up in little time and is easily customisable to suit your needs.

Is setting up a metaverse a costly situation?

ibentos offers various subscription levels and you can scale up depending on your requirements. We ensure that our platform adds value to our clients’ endeavors.

How important are avatars to the metaverse?

Avatars are what create a shared experience on the metaverse. Users interact with each other using their avatars. The avatars are also used to access the components of the metaverse. Gen AI-based chatbot digital avatars are also used to provide a humanised interaction rather than a text-based chatbox.

[trendingbulb]

The Future of Digital Marketing: Key Trends to Watch in 2024

✨ The digital world never stops evolving, and 2024 is bringing some serious game-changers! From AI-powered magic to sustainability-focused strategies, brands are stepping up to meet new challenges and opportunities. Here’s what you need to know to stay ahead of the curve. 💻📱🌐

AI is Taking Over (in a Good Way) 🤖

Artificial intelligence is no longer just a buzzword—it’s transforming how we market. AI is now the backbone of smarter customer segmentation, content personalization, and predictive analytics. With AI, you can deliver spot-on campaigns and create more seamless user experiences.

✨ Pro Tip: Start incorporating AI tools to personalize content and boost your marketing game. Automation is your new best friend!

Short-Form Video Reigns Supreme 🎬

Think TikTok, Instagram Reels, and YouTube Shorts—short-form video content is still ruling the social media scene. In 2024, it’s all about creating snappy, engaging videos that connect quickly. People love bite-sized content they can consume on the fly.

✨ Pro Tip: Dive into short-form video content to keep your brand fresh and relatable.

Voice Search & Conversational AI 🌟🎙️

Voice assistants like Alexa and Siri are here to stay, and voice search is only growing. Plus, conversational AI is leveling up how brands talk to their customers through chatbots and messaging apps. Quick, personal, and on-point responses? Yes, please!

✨ Pro Tip: Optimize your content for voice search and embrace conversational AI to elevate customer interaction.

Welcome to Web3 🚀

Blockchain, NFTs, and decentralized platforms are shaking things up in the digital marketing world. Web3 technology is all about giving users more control while opening new creative avenues for brands. Whether it’s NFT loyalty programs or virtual events in the metaverse, the future is decentralized.

✨ Pro Tip: Explore Web3 marketing and discover how you can create more transparent, unique campaigns.

Sustainability & Social Responsibility 🌱

In 2024, it’s not just about what you sell—it’s about what you stand for. Consumers are prioritizing sustainability, diversity, and ethical practices more than ever. Brands that focus on being socially responsible and environmentally conscious are winning hearts (and wallets).

✨ Pro Tip: Make sure your marketing reflects your brand’s commitment to sustainability and social causes.

Hyper-Personalization is a Must 🎯

Gone are the days of one-size-fits-all. Consumers now expect brands to tailor their experiences specifically to them, from product recommendations to personalized offers. Data-driven insights and AI are making this possible at scale in 2024.

✨ Pro Tip: Dive into hyper-personalization by leveraging data to craft unique customer experiences.

Privacy & Data Security Matter More Than Ever 🔒

Data privacy isn’t just a trend—it’s the new standard. With regulations like GDPR and CCPA, brands need to take data security seriously. Consumers want to know that their personal information is safe and used ethically.

✨ Pro Tip: Stay compliant with data privacy laws and be transparent about how you collect and use customer data.

Interactive Content is Taking Off 🎮🎨

Polls, quizzes, AR/VR experiences, and shoppable videos are bringing content to life in 2024. Interactive and immersive content creates deeper engagement and sticks with audiences long after the scroll.

✨ Pro Tip: Get creative with interactive content to boost engagement and make lasting impressions.

Influencer Marketing is Getting Real 💬

Micro and nano influencers are the new stars of influencer marketing. In 2024, brands are leaning into partnerships with influencers who have smaller but highly engaged audiences. Authenticity is key, and these influencers bring just that.

✨ Pro Tip: Collaborate with micro-influencers to tap into authentic, loyal communities.

Omnichannel is the Only Way 🛒

Consumers interact with brands on multiple platforms, from social media to physical stores. The goal in 2024? Creating a consistent, cohesive experience across all channels. Whether online or offline, the customer journey should feel seamless.

✨ Pro Tip: Build an omnichannel strategy that delivers a unified brand experience no matter where your customers find you.

Conclusion: Ready to Thrive in 2024?

Digital marketing in 2024 is all about adaptability and innovation. From AI to sustainability, the trends are clear: brands that embrace change and connect authentically will come out on top. So, let’s gear up for a year of innovation and growth! 🌟

#digitalmarketing2024 #AIinMarketing #ShortFormVideo #Web3 #Sustainability #OmnichannelMarketing #InfluencerMarketing #PrivacyMatters

[priteshwemarketresearch]

Virtual Reality Headsets market  by Platform, Type, Technology and End User Industry Statistics, Scope, Demand with Forecast 2034

Virtual Reality Headsets market Outlook:

Virtual Reality Headsets market size was valued at USD 9.08 billion in 2023 and is estimated to reach a value of USD 111.60 billion by 2034 with a CAGR of 26% during the forecast period 2024-2034. The rising need for virtual reality systems is responsible for the metaverse's expanding influence and the notable uptake of head-mounted displays (HMDs) in numerous industries. The main factors propelling the market expansion are the growing use of this technology in educational training, such as the instruction of mechanics, field workers, pilots, military personnel, and technicians in the manufacturing and oil and gas sectors.

 Virtual Reality Headsets market Dynamics:

Driver: The growing penetration of the Metaverse

Sence of presence in a virtual world is the main goal of the metaverse. With its ability to create immersive experiences that conflate the real and virtual worlds, virtual reality (VR) technology is leading the metaverse revolution. Users can see a 360-degree perspective of virtual worlds with VR headsets like Meta's Oculus, which replace their view of the real world. In a number of sectors, including customer service, healthcare, and education, this technology has already made a major contribution. VR is an invaluable training and educational tool because studies have demonstrated that it enhances learning and increases accuracy in medical practice. Work, education, and social interactions could all be completely transformed by immersive VR experiences in the metaverse.

Virtual Reality Headsets market Restraint: Latency issues and high energy consumption

Virtual reality systems work best when a number of technical parameters are carefully balanced; display latency and power consumption stand out as two of the most important ones. The term "latency" refers to the time lag that occurs between a user's input and the corresponding visual response in a virtual reality environment. This can cause problems for the smooth immersion that virtual reality aims to provide. Motion sickness, pain, and a discernible disengagement from the virtual environment can result from even the smallest latency.

Virtual Reality Headsets market Trends:

Healthcare is expected to see a major disruption due to VR applications, according per the experts' analysis. Plans for surgery, healthcare services, patient care systems, and medical education may all be improved, as technology has shown.There will likely be a rise in demand for healthcare due to its ability to replicate real-world environments through simulation. VR with assisted robotics to help medical personnel during operations. In order to build the necessary abilities, it also provides surgical training.

Virtual Reality Headsets market Competitive Landscape:

·         Carl Zeiss AG,

·         Facebook Technologies,

·         LLC (Oculus), Google LLC,

·         HTC Corporation,

·         LG Electronics, Inc.,

·         Microsoft Corporation,

·         Razer Inc.,

·         FOVE, Inc.,

·         Valve Corporation, HP Inc.

Virtual Reality Headsets market Resional Analysis:

“The APAC Virtual Reality Headsets market is experiencing rapid growth, driven by the rising adoption of standalone devices, technological advancements, and expanding applications across various sectors. Analysts note increased consumer interest due to affordable, high-performance VR headsets and advancements in display and tracking technologies. The market is also buoyed by applications beyond gaming, including education, healthcare, and real estate. Wireless VR solutions are gaining traction, offering enhanced convenience and immersion. Competitive pricing and localized strategies further boost market expansion. Overall, the APAC VR market is evolving dynamically, with innovation and diversification at its core. “

The APAC Virtual Reality Headsets market is undergoing significant transformation, marked by several key trends driving its growth and development. One of the most notable trends is the increasing adoption of standalone VR devices. These headsets, such as the Meta Quest series, offer a self-contained VR experience without the need for external PCs or consoles. This convenience and affordability are expanding the consumer base and driving broader market adoption.

Technological advancements are also crucial.

 Newer VR headsets are incorporating high-resolution displays, faster refresh rates, and improved tracking systems, which enhance visual clarity and user immersion. These innovations are reducing motion sickness and providing a more comfortable and engaging VR experience.

The market is seeing a diversification of applications beyond gaming, which is a significant growth driver. In education, VR is used for interactive and immersive learning experiences, allowing for virtual classrooms and hands-on training. In healthcare, VR supports medical training, patient therapy, and mental health treatments. The real estate sector benefits from VR through virtual property tours and architectural visualizations, making property viewing and design more efficient.

Another important trend is the rise of wireless VR technology.

Eliminating cables enhances user freedom and reduces clutter, contributing to a more seamless and enjoyable VR experience. This shift is making VR more accessible and appealing to consumers.

Competitive pricing and localized marketing strategies are further fueling market growth.

Manufacturers are offering affordable models and tailored promotions to attract a diverse range of customers across APAC. Overall, the APAC Virtual Reality Headsets market is expanding rapidly, driven by technological innovation, diverse applications, and increasing affordability, positioning itself as a dynamic and evolving segment of the global VR industry.

 Conclusion,

The Virtual Reality Headsets market is experiencing rapid evolution, driven by advancements in technology, increasing consumer interest, and expanding applications across various sectors. As VR technology becomes more sophisticated and accessible, it is set to transform entertainment, education, healthcare, and beyond. The market's growth is supported by innovations such as improved resolution, enhanced tracking, and more immersive experiences, while also facing challenges like high costs and content limitations. However, as these challenges are addressed, the VR headset market is likely to continue its upward trajectory, offering exciting opportunities for both consumers and businesses.

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